Vision Lithium to acquire Canadian lithium property 

Vision Lithium has agreed to purchase a 100% undivided interest in 40 contiguous mining claims in the province of Quebec, Canada. 

The firm will acquire the claims from vendors Michèle Richard and Gabriel Béland. The claims cover an area of 2,315.5ha and, combined with an additional 31 claims, are collectively known as the Decelles property. 

According to the agreement, Vision Lithium will make a $10,000 aggregate cash payment and issue 250,000 common shares to the vendors.

The property is located 55km south of Val-d’Or, Quebec and 75km south-east of the Vision Lithium’s Cadillac Lithium property. Vision Lithium said that the 2021 prospecting at the property suggested the presence of several pegmatitic dikes.

Vision Lithium president and CEO Yves Rougerie said: “The Decelles claims are an interesting addition to our growing portfolio of lithium properties.

"Since our acquisition of the 332-claim Cadillac property, almost 1,300 new claims have been staked by third parties to the east, south and west of our property. "

Manitou Gold to sell Canadian gold properties to Dryden Gold 

Canadian exploration company Manitou Gold has agreed to divest its 100% interest in Dryden properties in north-western Ontario to Dryden Gold. 

Dryden Gold will purchase the Dryden properties, including Kenwest and Gaffney, by making aggregate payments of $5.49m (C$7m) to Manitou. Manitou will receive four million common shares of Dryden Gold, as well as retain a 1% net smelter royalty.

Furthermore, Dryden Gold will fund $1.09m (C$1.4m) for exploration work over a period of three years. 

Dryden Gold will own a 100% interest in the property upon completion of full of all cash payments, issuances of all shares and completion of all work commitments.

Manitou president and CEO Richard Murphy said: “We are excited that Dryden Gold will be taking the lead in advancing exploration on the Dryden properties.

"Manitou will become a significant owner of Dryden Gold, [which] will be pursuing an initial public offering later this year, following which Manitou will retain a large insider ownership position of Dryden Gold. "

Katoro Gold and LVG sign JV deal for Tanzanian gold project 

UK-based Katoro Gold has signed a joint venture agreement with Lake Victoria Gold (LVG) to develop the Imweru gold project in Tanzania, Australia. 

Under the deal, Australian mining firm LVG will earn a stake of up to 80% in the project while Katoro will own the remaining 20% stake as a carried interest. LVG will also be responsible for 100% of the JV’s funding requirements, as well as all debt funding. 

The joint venture will reimburse previous expenditures, totalling $875,000, to Katoro on or before 31 December 2023. 

The agreement follows the cancellation of the deal signed by Katoro in June 2020 to sell the Imweru project to LVG.

As a result, Katoro and LVG have decided to cancel the sale deal and instead sign a collaborative agreement. The joint venture board will comprise three directors, of which two will be nominated by LVG and one by Katoro. 

Katoro CEO Louis Coetzee said: “The decision to cancel the sale of the project and to enter a joint venture instead was a strategic decision by the Katoro board to address challenges that made it impossible to complete the sale agreement within an acceptable time frame.” 

Sandvik develops new battery-electric truck for underground mining 

Sandvik has developed what it claims to be the largest-capacity battery-electric truck to support underground mining operations. 

The new Sandvik TH665B prototype has a 65-tonne payload capacity and is currently undergoing factory testing in California, US. Sandvik plans to finalise the trial agreement with AngloGold Ashanti Australia and underground mining services company Barminco. 

AngloGold Ashanti plans to trial the new prototype at its Sunrise Dam gold mine in Western Australia to validate its viability in a long-ramp haulage application. 

The trials of the Sandvik TH665B truck will be carried out prior to its commercial production, which is planned to start in late-2023. 

Sandvik said that a fully loaded Sandvik TH665B machine would be up to 30% faster on a 1:7 ramp when compared to a conventional diesel underground truck. 

The machine is also equipped with extremely efficient electric driveline to offer high acceleration and fast ramp speeds. Additional features of the truck include a new battery lifting system to provide improved reliability and Sandvik’s self-swapping system to enable quick and easy battery swap within minutes. 

Sandvik mining and rock solutions president Henrik Ager said: “Our 65t battery-electric truck is our latest development in helping mass hard rock miners and contractors to make the shift towards more productive, emission-free mining.” 

Asia Broadband to purchase Mexican gold mine project

US-based resource company Asia Broadband (AABB) has agreed to acquire a 100% interest in the Zodiac Gold Mine Project in Buen Pais, Jalisco, Mexico.

The #218704, Zodiaco I concession is situated in the community of Buen Pais, approximately 15km south-east of the municipality of Tonila and 30km from Colima. The definitive purchase agreement also includes a 150tpd capacity processing plant.

In accordance with the agreed terms, AABB  will pay $700,000 for the property. The deal also includes an option to acquire two additional Zodiac concessions.

Asia Broadband president and CEO Chris Torres said: “The Zodiac is an amazing acquisition for the us in terms of its production potential and economic value."